Skip to main content

About your Search

Search Results 0 to 5 of about 6 (some duplicates have been removed)
1, 2013, tax breaks worth $416 billion will expire. spending on things like defense, medicare payments to doctors will be slashed by $65 billion. add it all up and you are talking about cutting roughly half a trillion dollars from the federal budget. the congressional budget office and others warn going over the cliff will send the economy into a recession in the first half of next year. it was congress and the white house that set the deadline in hopes of forcing each other to cut the federal budget deficit and begin to address the growing national debt. of the half trillion dollars the fiscal cliff is designed to cut in red ink next year, 80% of it comes in the form of higher taxes. under current law, 20% comes from lowering government spending. this is just the first step as part of a $7 trillion effort to cut the debt over the next decade. that has led some to describe what could be coming as a fiscal slope, not a cliff. whatever geological description you prefer, it is on the map for every american. >> susie: a critical issue in this fiscal cliff debate: jobs. if the gove
, there is no near-term risk factored in, and that makes me very nervous. we are being very defensive, given that risk is still out there. i wouldn't be shocked to see 5%, 10%, if we went off the cliff on the s&p. that wouldn't be a big surprise to me. put it into perspective, last august when we had the debt ceiling and a downgrade, we saw a much bigger fall in the stock market then. >> susie: you say you're uncomfortable with this kind of uncertainty. how are you positioning the portfolios for your investors? you said you're defensive. tell us more. >> so into the u.s. election, especially given that the polls were leaning towards obama, we had taken a defensive stance already. we had gone slightly underweight equities, and added more things like high-yield mortgage debt, emerging market debt, and mortgage-backed securities, that will yield as much as capital appreciation, and investments that have lower volatility than the stock market. so we have an overweight there. those investments i just spoke about, that's about 24% of our portfolio right now, and that's definitely helped us get thr
Search Results 0 to 5 of about 6 (some duplicates have been removed)